Starr Companies announced that Starr International Company, Inc. has been approved by the China Insurance Regulatory Commission [CIRC] as a strategic equity investor of Dazhong Insurance Company Limited of China.
Starr International said the approval allows it, “through its subsidiary, Starr Insurance & Reinsurance Limited, to take a significant equity position in Dazhong Insurance and become its largest single shareholder.”
Maurice R. Greenberg, Chairman and CEO of C.V. Starr & Co., and Starr International commented: “China is experiencing incredible growth, creating an increasing need for insurance products and services. We recognize Dazhong as a company with great potential – one that is positioned to emerge as one of the most significant insurance organizations in the region.”
Together, the companies are expected to leverage Starr International’s product and distribution expertise to broaden the companies’ offerings and expand within China.
Source: Starr Companies
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